OZ Management LP Sells 83,673 Shares of Ashland Global Holdings Inc (ASH)
OZ Management LP trimmed its position in shares of Ashland Global Holdings Inc (NYSE:ASH) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,252,348 shares of the basic materials company’s stock after selling 83,673 shares during the period. Ashland Global comprises approximately 1.0% of OZ Management LP’s portfolio, making the stock its 18th biggest holding. OZ Management LP owned about 3.61% of Ashland Global worth $188,882,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in ASH. Brown Advisory Inc. acquired a new position in Ashland Global during the second quarter worth $200,000. Creative Planning acquired a new position in Ashland Global during the third quarter worth $206,000. Commerce Bank acquired a new position in Ashland Global during the third quarter worth $209,000. Cambridge Investment Research Advisors Inc. acquired a new position in Ashland Global during the second quarter worth $221,000. Finally, Alps Advisors Inc. acquired a new position in Ashland Global during the second quarter worth $223,000. Institutional investors and hedge funds own 93.00% of the company’s stock.
In related news, CFO J Kevin Willis sold 2,455 shares of Ashland Global stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $80.94, for a total transaction of $198,707.70. Following the sale, the chief financial officer now directly owns 17,114 shares of the company’s stock, valued at $1,385,207.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Keith C. Silverman sold 498 shares of Ashland Global stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $81.67, for a total value of $40,671.66. Following the sale, the vice president now directly owns 3,380 shares in the company, valued at $276,044.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,353 shares of company stock worth $1,418,052. 1.14% of the stock is currently owned by company insiders.
Shares of NYSE:ASH opened at $81.07 on Wednesday. The stock has a market capitalization of $5.12 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.33. Ashland Global Holdings Inc has a 52-week low of $64.81 and a 52-week high of $86.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.59.
Ashland Global (NYSE:ASH) last issued its quarterly earnings results on Tuesday, November 6th. The basic materials company reported $0.97 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.97. The company had revenue of $956.00 million for the quarter, compared to the consensus estimate of $926.50 million. Ashland Global had a return on equity of 6.71% and a net margin of 3.05%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. On average, sell-side analysts predict that Ashland Global Holdings Inc will post 3.92 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 15th. Stockholders of record on Monday, December 3rd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Friday, November 30th. Ashland Global’s dividend payout ratio is currently 27.93%.
Ashland Global Profile
Ashland Global Holdings Inc provides specialty chemical solutions worldwide. Its Specialty Ingredients segment provides products, technologies, and resources for solving formulation and product-performance challenges. It offers solutions using natural, synthetic, and semisynthetic polymers derived from plant and seed extract, cellulose ethers, vinyl pyrrolidones, and acrylic polymers, as well as polyester and polyurethane-based adhesives.
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